ETH is currently at 2,265.45, up 0.71% over 24 hours. The price is moving back and forth around the key moving-average level, with volatility clearly contracting. Bid and ask depth in the order book is nearly balanced. Short-term funds are flowing in and out frequently at this level, but no clear direction has emerged.
Trading volume has eased slightly compared with the previous few periods, suggesting that both bulls and bears are waiting for the other side to move first. With this kind of sideways action around the moving average, the next move will either be a breakout on increased volume or more consolidation. First, watch whether this moving average holds, then see whether volume confirms the move.
#ETH #Crypto #BinanceSquare $ETH
Trading volume has eased slightly compared with the previous few periods, suggesting that both bulls and bears are waiting for the other side to move first. With this kind of sideways action around the moving average, the next move will either be a breakout on increased volume or more consolidation. First, watch whether this moving average holds, then see whether volume confirms the move.
#ETH #Crypto #BinanceSquare $ETH
